How Ulta Succeeds in the Competitive Beauty Category
In an industry that's ridden with store closures and bankruptcies, one retailer is a bright spot. Ulta Beauty, one of the fastest-growing beauty retailers, saw net sales increase 23.7 percent in 2016 and earnings per share soar 30.9 percent.
Earlier this week at Shoptalk in Las Vegas, Dave Kimbell, Ulta’s chief merchandising and marketing officer, discussed the success of the company's unique assortment strategy, as well as his data-driven approach to increasing store and site visits, conversion and loyalty among a broad demographic of shoppers in the highly competitive beauty category.
There are three categories that Kimbell says set Ulta apart from the competition: its stores, its loyalty program, and its data and how it relates to brand partners.